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5024 W Kerry Lane Glendale, AZ 85308

3 Beds 2 Baths 1,301 sqft Built 1995

$315,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $242.12
  • 2 Days on Market
  • MLS # : 6190850
  • Updated Date : 02/07/2021 at 02:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,301 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

3 Bed - 2/BA - 2 CG - Original owner -Meticulously maintained and tastefully decorated. Light & bright open floor plan; Great room opens to a spacious dining area just off the kitchen offering plenty of counter workspace and cabinetry for storage. French doors lead to covered patio and well manicured lawn with wall planter. Spacious master with walk-in closet; Master shower remodeled with updated tile surround and glass doors. 18'' tile throughout most of the home; 2 nice size guestrooms with neutral carpeting. Garage has built-in cabinets & workbench; #A/C replaced 2018; Irrigation system 2020, New Garage Door & Opener 2019;Seller providing a Basic Home Warranty with First American Home Warranty Co;

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: North Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9521567

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Desert Sky Middle School Middle Regular 642 28 6
Deer Valley High School High Regular 1,854 95 5

Desert Sky Middle School

  • Education Level: Middle
  • # of students: 642
  • # of teachers: 28
6
GreatSchools Rating

Deer Valley High School

  • Education Level: High
  • # of students: 1,854
  • # of teachers: 95
5
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,094
Property Tax -$188
Property Insurance -$53
HOA -$30
Property Management Fees -$99
CASH FLOW
-$153

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,031

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,310

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,314

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,4253$1,5854$1,5955$1,625
$1,625
RENT COMPS ANALYSIS
  • 5024 W Kerry Lane Glendale, AZ 1
    • 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.01
    •  
  • 20014 N 47th Lane Glendale, AZ 2
    • 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 1985
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.97
    •  
  • 19831 N 48th Lane Glendale, AZ 3
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1987
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $1.02
    •  
  • 19205 N 52nd Lane Glendale, AZ 4
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1996
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 5011 W Oraibi Drive Glendale, AZ 5
    • 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 1995
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
PROPERTY LISTING DETAILS
Debra Richards
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190850
Last Updated: 02/07/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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